CALGARY,
AB, Nov. 21, 2023 /CNW/ - AltaGas Ltd.
("AltaGas" or the "Company") (TSX: ALA.PR.E) announces its
intention to redeem – in accordance with the terms of the
Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series E
(the "Series E Shares") as set out in the Company's articles – all
of its 8,000,000 issued and outstanding Series E Shares on
December 31, 2023 (the "Redemption
Date") for a redemption price equal to $25.00 per Series E Share, together with all
accrued and unpaid dividends to, but excluding, the Redemption Date
(the "Redemption Price"), less any tax required to be deducted or
withheld by the Company.
As outlined in the November 10,
2023 press release, AltaGas intends to use the net proceeds
from the $200 million of 8.90%
Fixed-to-Fixed Rate Subordinated Notes, Series 3 due November 10, 2083 to redeem or repurchase its
outstanding Series E Shares.
The Company has provided notice today of the Redemption Price
and the Redemption Date to the sole registered holder of the Series
E Shares in accordance with the terms of the Series E Shares as set
out in the Company's articles. Non-registered holders of Series E
Shares should contact their broker or other intermediary for
information regarding the redemption process for the Series E
Shares in which they hold a beneficial interest. The Company's
transfer agent for the Series E Shares is Computershare Investor
Services Inc. Questions regarding the redemption process may be
directed to Computershare Investor Services Inc. at 1-800-564-6253
or by email to corporateactions@computershare.com.
ABOUT ALTAGAS
AltaGas is a leading North American infrastructure company that
connects customers and markets to affordable and reliable sources
of energy. The Company operates a diversified, lower-risk,
high-growth Utilities and Midstream business that is focused on
delivering resilient and durable value for its stakeholders.
For more information visit www.altagas.ca or reach out to one of
the following:
Jon Morrison
Senior
Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca
Adam McKnight
Director, Investor Relations
Adam.McKnight@altagas.ca
Investor Inquiries
1-877-691-7199
investor.relations@altagas.ca
Media Inquiries
1-403-206-2841
media.relations@altagas.ca
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information
(forward-looking statements). Words such as "may", "can", "would",
"could", "should", "will", "intend", "plan", "anticipate",
"believe", "aim", "seek", "propose", "contemplate", "estimate",
"focus", "strive", "forecast", "expect", "project", "target",
"potential", "objective", "continue", "outlook", "vision",
"opportunity" and similar expressions suggesting future events or
future performance, as they relate to the Company or any affiliate
of the Company, are intended to identify forward-looking
statements. Specifically, this news release contains
forward-looking statements with respect to, among other things, the
payment of dividends to holders of the Series E Shares and the
redemption of the Series E Shares including the Redemption Date,
the Redemption Price and AltaGas' intention to use the net proceeds
from the offering of the 8.90% Fixed-to-Fixed Rate Subordinated
Notes, Series 3 due November 10, 2083
to redeem the Series E Shares.
These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. Such forward-looking statements reflect
AltaGas' current views with respect to future events based on
certain material factors and assumptions and are subject to certain
risks and uncertainties including, without limitation, changes in
market, governmental and regulatory developments, general economic
conditions and other factors set out in AltaGas' public disclosure
documents.
Many factors could cause AltaGas' actual results, performance
or achievements to vary from those described in this news release
including, without limitation, those listed above. These factors
should not be construed as exhaustive. Should one or more of these
risks or uncertainties materialize, or should assumptions
underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this news
release as intended, planned, anticipated, believed, sought,
proposed, estimated or expected, and such forward-looking
statements speak only as of the date of this news release. AltaGas
does not intend, and does not assume any obligation, to update
these forward-looking statements. The forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement.
SOURCE AltaGas Ltd.